Common use of Section 125 Clause in Contracts

Section 125. The Metropolitan School District of Martinsville has established a Flexible Fringe Benefit Program for those employees eligible to participate in such a program in accordance with Section 125 of the Internal Revenue Act of 1978, and the corporation adopted plan document. Both a “generation one” program with premium contributions for the cost of medical and dental insurance coverage and a “generation two” program for dependent care expenses and health care expense accounts preserved in a non-taxable status will be sponsored by the school corporation. Employees may elect to participate in these programs annually.

Section 125. The Metropolitan School District of Martinsville has established a Flexible Fringe Benefit Program for those employees eligible to participate in such a program in accordance with Section 125 of the Internal Revenue Act of 1978, and the corporation adopted plan document. Both a “"generation one” " program with premium contributions for the cost of medical and dental insurance coverage and a “"generation two” " program for dependent care expenses and health care expense accounts preserved in a non-taxable status will be sponsored by the school corporation. Employees may elect to participate in these programs annually.